Consider variations in tax and legislation when buying abroad

Following a washout of a summer and with the fog descending around the country, it's fair to say that many Brits are likely to be tempted by the prospect of buying a holiday home overseas.

Yet despite the excitement of searching for the ideal getaway - be it on the shores of the Mediterranean or in the snowy confines of the Alps - it's important that people remember the buying process may differ slightly to that seen in the UK.

Indeed, as Sylvia Davis, property and living editor at FrenchEntree.com says, legal requirements in foreign countries may mean that you have to take an alternative approach to the way you set about acquiring your property.

"It is up to the buyers to be judicious, to ask questions and not to assume that the legislation or taxes will work in the same way as in their home country - [for example] the French legal system belongs to the tradition of civil law," she said.

"Differences can crop up anywhere, from inheritance laws that might affect the children, to substantial capital gains taxes that hit when it's time to sell."

Whether it's different tax structures or a mortgage system that does not work on the same basis as that used in Britain, it's vital that anyone considering buying a second home on the continent understands exactly what their obligations are throughout the process.

Indeed, as well as ensuring they cover all their bases when purchasing their property, Brits will also need to be aware of their position and rights once the sale has gone through.

But despite the likelihood of variations, there are a number of similarities between owning homes overseas and on domestic shores, including the need to protect against the threat of theft and damage.

Holiday home insurance policies are a vital investment for Brits who own any foreign properties, helping to safeguard their assets and avoid unexpected costs.